Applied Materials Stock Is Tumbling. The Entire Chip Sector Is Sliding Too.

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https://www.barrons.com/articles/applied-materials-amat-stock-price-semiconducutors-51632827875

Updated Sept. 28, 2021 12:54 p.m. ET / Original Sept. 28, 2021 7:21 americium ET

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Chip stocks specified arsenic Applied Materials and Nvidia were falling sharply Tuesday arsenic rising Treasury yields pressured fast-growing tech shares.

Amid the reddish ink, New Street Research downgraded Applied Materials (ticker: AMAT) to Neutral from Buy with a $140 terms target. The banal was down 6.73% successful trading Tuesday to $133.13. The mean people terms of analysts surveyed by FactSet is $164.15.

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